Tax Institute Policy Review
January Edition 2009
HB 1054 Occupation Tax- Amends the School Code. Provides that the proceeds of a school facility occupation tax must be allocated based upon the number of each school district's resident pupils that reside within the county collecting the tax divided by the total number of resident students within the county (instead of the total number of students for all school districts within the county). P.A. 095-0850
HB 5069 Property Tax- Payment Adjustment- Amends the Property Tax Code concerning payments under specification. Provides that the collector shall (instead of "may") receive taxes on part of any property charged with taxes when a particular specification of the part is furnished. Amends the Illinois Income Tax Act. In a Section that allows the Director of the Department of Revenue to adjust items of income if it appears that an agreement, understanding, or arrangement exists that causes a person's base income to be improperly or inaccurately reflected, provides that the Director may not make an adjustment to base income that has the effect of retroactively applying certain Public Acts. P.A. 095-0948
SB 1981 Film Production Services Tax- Amends the Film Production Services Tax Credit Act of 2008. Repeals a Section of the Act that provides that the Act will sunset on January 1, 2009. Provides that, for an accredited production commencing on or after January 1, 2009, the amount of the credit is (i) 30% (instead of 20%) of the Illinois production spending for the taxable year, and (ii) 15% of the Illinois labor expenditures generated by the employment of residents from areas of high unemployment or high poverty. Imposes conditions on any rulemaking authority. Effective immediately.
Dec 15 08 S. P.A. 095-1006
SB 2353 Property Tax-Surveys- Amends the Property Tax Code. Repeals a Section authorizing county clerks to make a survey of subdivided property. P.A. 095-0925
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